CHAPTER 12
Building inferential statistical formulas
In this chapter, you will:
Learn about inferential statistics and how they apply to business
Build formulas to show the relationship between two sets of data
Extract sample data from a larger population
Use probabilities to make decisions under uncertainty
Infer characteristics of a population using confidence intervals and hypothesis testing
In Chapter 11, “Building descriptive statistical formulas,” you learned how to measure useful statistical values such as the count, mean, maximum, minimum, rank, and standard deviation. These so-called descriptive statistics tell you a great deal about your data, but business analysis and decision-making require more than just descriptions. As an analyst ...
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